Before you leave Altoona, PA, to explore the country in your recreational vehicle, undergo an RV insurance review with H. Dean Allison Insurance. RV insurance reviews can catch a need for an insurance update because you updated or upgraded your RV. Just like remodeling or renovating your house, doing so to your RV increases its value, and that means you need to increase its valuation in your insurance policy so all of your nifty upgrades receive coverage.
What Kinds of Changes Require a Review?
If you replaced the microwave or hung new curtains, you made a small change that won’t affect your insurance policy’s efficacy. If you added solar panels and an inverter so you’ll have electricity while parked anywhere, your update requires an insurance review.
Here’s another example. While a new microwave doesn’t require an insurance update, if you upgraded all of the appliances in your RV, you added value to your RV that needs added coverage.
How RV Coverage Works
When you initially insure your RV, it typically receives coverage in the condition you purchased it. You decide between agreed upon value, stated value, or actual cash value of the RV, and your insurance policy reflects this unless you change it through an insurance update. If you choose the agreed-upon value as the valuation method and state the RV’s value as $50,000, that’s all the coverage it receives. If totaled, you would receive a check for $50,000 if you carry comprehensive and collision coverages. That total value limit would still apply, even if you had just spent $15,000 on a solar panel system and new appliances.
That’s why so many insurance agents tout insurance policy reviews. These periodic reviews of your property and its coverage uncover items you purchased that increase the value of your property but don’t yet have coverage under your policy. Add the upgrades to your coverage, so in case of an accident that damages an upgrade or totals the RV, you receive the full value of your RV.
Contact H. Dean Allison Insurance Today
At H. Dean Allison Insurance, we’re ready to help you protect your investments. Call your insurance agent for an RV insurance review today so you remain protected on Altoona, PA roads and beyond.
